On Monday, car manufacturer Renault Korea Motors and the Sandbox Metaverse jointly launched a new partnership to underpin the unique digital experiences for their customers by harnessing the power of emerging technologies.
The Sandbox metaverse and Renault Korea Motor said in a statement that the partnership intends to offer automobile experiences that have undergone huge digital transformation driven by key blockchain trends such as connectivity and Web3-based solutions.
‘’The partnership would build around offering new types of experiences that combine automobiles and digital assets in The Sandbox”, said Cindy Lee, the CEO of The Sandbox Korea.
Renault enters The SandBox virtual world
The luxury Korean carmaker says it is committed to capitalizing on the opportunities created in the virtual world to power next-generation machinery and will focus on virtual reality, gaming, NFTs, and Blockchain. Renault joins other automakers like Ferrari, Mercedes-Benz, the Virtual Porsche, and BWM who have made strong strides to adjust to Web3 solutions technology by developing and enabling ADAS features in their cars.
“This partnership is an excellent example of a collaboration The Sandbox can develop without any industrial boundaries,” said Cindy Lee, CEO of The Sandbox Korea.
Sandbox has been aggressively engaging its partners, Investors, and developers to be more innovative and has allowed users to purchase virtual land to build their own digital own world. So far, The Sandbox is also planning to launch a play station that will create 5,000 games by the close of 2023. They have also created in-game jobs that allow people to work virtually.
Virtual reality finding its footing in automotive industry
The entrance of automotive companies in the Metaverse through partnerships has given cars a new hype and has enabled customers to understand the development and the market of virtual worlds by applying web3 technology to evaluate the present and prospective benefits of virtual worlds for ‘real-world’ companies.
Analysts predict that by 2027, nearly 75 percent of all vehicles sold will come with embedded blockchain connectivity, so automakers are increasingly looking at these connected experiences to differentiate their offerings, grow market share and strengthen or reinforce their respective brands.
A market watch report has placed The Sandbox in the third position in crypto metaverse, with a $1.39 billion market cap after Decentraland and ApeCon.
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